Russia paying off debts to IMF

Russia's finance ministry made on Monday a new payment of 26.622 million euro as part of its debt to the International Monetary Fund, said the ministry, adding that the money had been transferred in compliance with the initial payment schedule.

The next payment is due on June 27th.

The previous one was made on June 7th and equalled $25.147 million. The total volume of planned payments to the IMF in 2002 amounts to $1.5 billion.

Russia's debt to the fund was estimated at $7.5 billion on January 1st, 2002. During January-May the country transferred to the IMF about $600 million.